BRIEF: Nova Chemicals calls off deal to sell Monaca plant 

BRIEF: Nova Chemicals calls off deal to sell Monaca plant

Nov 19, 2012 (Menafn - The Pittsburgh Tribune-Review - McClatchy-Tribune Information Services via COMTEX) --Nova Chemicals Corp. called off a deal to sell its styrenics business, including a plant in Monaca, to a Canadian building-products maker.

Nova, based in Calgary, Alberta, had announced in May that it would sell the business to PFB Corp. for an undisclosed price.

"It had become apparent to both Nova Chemicals and PFB that PFB would be unable to complete certain steps necessary to consummate" the deal, Nova said in a statement.

The Monaca plant, which makes expandable polystyrene, employs about 250 workers.

On Nov. 12, Nova said it was selling its Leetsdale-based subsidiary Syntheon Inc. to Headwaters S.C., a Franklin Park investment consulting firm. That deal is expected to close by the end of this month.

Alex Nixon is a staff writer for Trib Total Media. He can be reached at 412-320-7928 or anixon@tribweb.com.

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